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A study by USA Today has found that federal employees' average compensation is more than double what private sector workers earn and has grown 33% faster than inflation since 2000.
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In this editorial for U.S. News & World Report, contributing editor Peter Roff highlights the ever growing negative sentiment towards public employee unions. Polls show that as unemployment and the federal deficit continue to rise, concern is mounting over the generous pension plans given to state and federal workers.
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Author shares how 50-year old friends are retiring from state jobs with 90 percent of their final annual pay while his 50th birthday approaches with retirement nowhere in site. California's rapidly increasing state employee pension expenses threaten to decimate the budget while workers in the private sector see their already much less genereous benefit packages scaled back.
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California currently faces massive budget shortfalls that have yet to be effectively addressed. Greenhut argues our politicians have been unwilling to take on powerful government employee unions even as taxpayers stage Tea Parties and productive citizens flee the state for lower taxes in Nevada and Arizona.
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As this article from Bloomberg.com explains how government employees are becoming the societal anathema almost as strongly as the investment bankers were in 2009. Perhaps the leader in corrupt financial practices in a struggling economy, public employees have taken a double portion of the countries scare financial resources.
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